Szukana fraza: [Abstrakt = "Humanity has had to deal with the destructive force of the plaques and the ravaging diseases since prehistory. Pandemics have been a part of the insurance industry since its beginnings. However, today's pandemics risk is no longer a result of, hygienic or medical conditions. The risk exposure has to take into account traveling possibilities and new mutations of the present pathogens. For the insurance industry there is a special need to devise new solutions of risk transfer. Securitization as a financial innovation has become a substitute for classical transfer methods. This paper identifies some new aspects of pandemics risk. There is also a compact introduction to the securitization methods in the life insurance industry. Finally the paper tries to examine securitization programs and catastrophe bonds transferring pandemic risk to the capital markets."]
